On average, your FICO Score at will only increase 1-2 points a month, when nothing changes, meaning NO new negative info, missed payments OR additional debt is added. It is much easier to go from 0 to a 620 FICO Score, than it is to go from a 620 to a 720 score.

Unfortunately, there are only a few ways to show GOOD CREDIT, however, there are dozens of way to adversely affect your credit (i.e. if you miss a payment-even a small one, go over your credit card limit, forget to pay a utility bill, add a collection account, pay less than the minimum, have your credit report pulled too often or unnecessarily, being a co-signer or guarantor on a loan and/or just having a new joint account added, etc.).

There are five (5) main numerical factors that influence a FICO Score: Payment history (35%); credit utilization (30%); credit history (15%); types of credit (10%); and new credit (10%); there are also sub-categories, like excessive inquires and spending binges.

When you are approved for a loan or credit card, initially your FICO Scores will go down because you now have a “NEW” account, with NO payment history, ADDED debt, which reduces the “Average Age” of your trade-lines. Your credit scores increase when your credit card balances are under 50% of the limit, they get another significant boast when you under 30% of the limit, and a small bump when you’re under 10%. Don’t just call anyone, call an expert!